Govt prepares framework to boost hydro projects

The Power Ministry is preparing a new framework to boost hydropower development in the country by lowering the cost and removal of long-drawn clearances, a senior official said. ¨The focus is going to be back on hydro,¨ Additional Power Secretary B P Pandey said at a conference on hydropower. Highlighting that reducing the cost of hydro-electric power is one of the major challenges in the hydropower sector, he suggested financial restructuring together with innovative financing instruments. ¨How do we bring down costs or tariff of hydro projects? Can we overcome and remove some of the long-drawn clearance processes taking into account environmental safety and basin studies? Can we also devise some innovative financing models in our instruments which may help to restore the investor confidence?¨ Pandey asked.